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China to create better environment to boost private economy

Updated: Nov 11,2018 6:55 AM     Xinhua

BEIJING — China will provide more investment opportunities and better services for private businesses in the country, said Ning Jizhe, deputy head of the National Development and Reform Commission.

China will promote a series of projects in the sectors of transport, energy, ecology and environmental protection in line with national industrial policies, with sound preliminary works and clear investment return mechanism to private businesses, said Ning, also head of the National Bureau of Statistics.

Each year, the country will publish a list of promotion projects for private businesses, with follow-up support and services.

Apart from reducing administrative approvals, China will continue to remove hidden obstacles for private capital to enter key sectors, reinforcing financing support for private investment, he said.

Ning said China has implemented pilot reforms of mixed ownership in the sectors of electricity, oil, gas, railway, aviation, telecommunication and military industry.

To encourage private businesses to participate in the mixed ownership reform, China will expand the pilot areas, make better use of private capital and improve supporting policies.

Ning stressed the protection of private businesses’ property rights and carrying forward entrepreneurship.

While enhancing the coordination of macroeconomic policies, China will introduce a negative list for market entry, establish an evaluation system and cut taxes and costs to improve the business environment for private businesses, Ning added.

China’s private investment has maintained a steady rise at a rate of above 8 percent so far this year, accounting for about 60 percent of the country’s total investment, Ning said.